American news magazine TIME has announced it will now accept and hodl ether (ETH) on its balance sheet as the brand continues to expand into the cryptocurrency space. According to a press release, cryptocurrency firm Galaxy Digital will assist in explaining the metaverse.
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Galaxy Digital CEO, Mike Novogratz, says the metaverse will become an "increasingly important part of the world economy" as digital realities are "already becoming hard to distinguish."
"We look forward to partnering with TIME, an iconic brand driving innovation, as we seek to bring readers, creators, and the curious into the metaverse and demystify the tremendous amount of transformation happening within," Novogratz added.
As part of its new campaign, TIME will also present the new category called TIME100 Companies Metaverse, featuring entrepreneurs developing immersive virtual worlds.
In April this year, TIME announced that its readers can use cryptocurrencies to pay for digital subscriptions via Crypto.com. At the same time, Grayscale CEO, Michael Sonnenshein, revealed that TIME had agreed to hodl bitcoin (EXANTE: Bitcoin) on its balance sheet.
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